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High-rise commercial buildings

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Alternative Assets  + Real Estate  | 
Hanover Co. Closes $125M Fund to Transform Distressed Properties into Multifamily, Industrial Assets 

Hanover Co. Closes $125M Fund to Transform Distressed Properties into Multifamily, Industrial Assets 

Hanover Company has closed its Hanover Opportunities Fund (HOF) with $125 million in capital commitments, targeting the acquisition and redevelopment of underutilized commercial assets into multifamily and industrial projects across the U.S. 

The fund focuses on early-stage opportunities, including vacant buildings and distressed office properties. It has already secured an industrial site in York, Pennsylvania, and two multifamily development parcels in San Jose, California. 

HOF’s strategy emphasizes quick-close, all-cash deals—even without existing entitlements—allowing Hanover to offer liquidity to sellers facing market constraints. The fund is actively sourcing deals in key regions, including the Sun Belt, West Coast, Northeast, and Mid-Atlantic. 

Led by CEO Brandt Bowden and Managing Director Drew Willson, Hanover is positioning HOF to meet the rising demand for pre-development risk capital in a real estate landscape shaped by shifting demographics and tightened financing conditions. 

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Hanover Co.

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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